What is Debt Consolidation Non Profit?
Debt consolidation non profit is a debt consolidation program whose primary purpose is to help you to get out of debt. Their aim is not only to earn profit, rather focus in reducing your debt burden. These companies take up different ways of debt solution to help you to become debt free.
How do they work?
They negotiate with your creditors and lower your payable amount. The creditors agree to negotiate as; they can at least get back a secured amount. As you sign up with a non profit debt consolidation company, a team of financial professionals from that company negotiate with your creditors to secure a lesser agreed-to amount. They also figure out an effective repayment plan so that you can make a affordable, lower, single, monthly payment to clear your debts easily.
What are the advantages of the debt consolidation non profit companies?
The debt consolidation non profit companies help you in several ways:
- They lower your monthly payments.
- They help you to make a single monthly payment at a single interest rate.
- They help you in avoiding creditor calls.
- They charge lower fees.
- They frame your repayment plan to the best of your interest.
- They also consider your capacity to manage you finances while making the repayment plan. Otherwise you may become a defaulter and fall in trouble.
Some companies gift you with free credit counseling and budget management, included with your debt consolidation plan.
What are the Debt Consolidation Non Profit Scams?
With the growth of Debt Consolidation Non Profit companies, non profit debt consolidation scam is also at a rise. Very often, people get trapped by the scam artists while dealing with these companies. Some companies give alluring offers, but some are dangerous. The common non profit debt consolidation scams are:
- Internet scams: Almost majority of the non profit debt consolidation companies are net based. They carry out their transaction through their official websites. So there is no validity about their existence. These companies are known for frauds. They pull out your personal information, like your credit card number, your bank account number and other details to take out money from your account without your knowledge and lead you to trouble.
- Duplicity scams: Some of the companies promise to give you absolutely free service. But, in reality, they include the free service cost in your debt consolidation program. By merging the interest rate with the debt consolidation plan they tend to take away higher costs form you in some other way, unknowingly.
- Authenticity scams: Almost majority of these companies operate on donations. Some of them have been defaulters time and again.
How should you select a Debt Consolidation Non Profit company?
Non profit debt consolidation companies have repeatedly proved to be unreliable. Thus, while looking for a non profit debt consolidation company, go through the following steps:
Shop around:
Review the different non profit debt consolidation companies. Check out the quality service they offer. Make inquiries from your friends, acquaintances or neighbors who have shortly gone though a similar situation. Look into the consumer guides and online information. Gather more information from different sources. This will help you to frame a fair idea about the non profit debt consolidation company's in the market.
Inquire:
Ask the company about the fees they charge and if they offer free service inquire more about the debt consolidation plan. Make as many queries you have. If you are not clear about anything ask again and again, till you are clear about their functioning.
Don't rely on the online companies:
Just creating a website is not a big deal. Anybody can do that. Never give out your personal information like credit card number, bank account number and other relevant information while transacting online. Ask about their physical location, contact them, and make a thorough research on their functioning then take the next step.
Access the credibility of the company:
Make sure that the company has been in business for quite sometime. This will help you to determine it's authenticity to some extent. You can also review the company information from the local business bureau. There you can enquire if any complaints are filed against the particular non profit debt consolidation company.
However a debt consolidation non profit company, despite its drawbacks is an apt choice if you are burdened with debt. But you need to make a proper selection.
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 Posted: Sun Nov 04, 2007 8:46 pm Post subject: Debt Consolidation Non Profit – Is it really Non-Profitabl |
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Hi all
after spend over 2 hours look at my credit report i have no ideal what i need to be done. I try to search a good non profit debt consolidation can help me get through this.
if you know any good one please share
Thanks
_________________
Register today to encash debtcc points. |
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SheTookMYBoxer
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Debtcc Points: 100
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| Posted: Sun Nov 04, 2007 9:06 pm Post subject: |
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Welcome!
We could help you more if we knew what kind of debt you are needing help with & the amounts on each of the debts.
Please apply for a free consultation or call a counselor. They are both free & they will help you sort through your options.
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Mommy to Matthew Patrick...born 3/6/08! |
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lawn1016
Joined: 26 Jul 2007
Posts: 681
Debtcc Points: 5946
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| Posted: Sun Nov 04, 2007 9:09 pm Post subject: non-profit debt consolidation ? |
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Hi
three credit card about $11,000 total while i am in college. can a debt consolidation company help me? which website or number that provide free consultation or call a counselor.?
Thanks |
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SheTookMYBoxer
Guest
Debtcc Points: 100
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| Posted: Sun Nov 04, 2007 9:13 pm Post subject: Call 800-601-1579; learn about debt consolidation non profit |
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Please call 800-601-1579 or on this site here there is a form you fill out & someone will contact you.
Have you tried contacting your creditors to see if they can lower the interest rate at all? Have you contacted any non profit debt consolidation company?
_________________
Mommy to Matthew Patrick...born 3/6/08! |
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lawn1016
Joined: 26 Jul 2007
Posts: 681
Debtcc Points: 5946
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| Posted: Sun Nov 04, 2007 9:14 pm Post subject: Cal Debtcc and inquire debt consolidation non profit |
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SheTookMyBoxer....the number for debtcc is 1-800-601-1579. Also if you look on the right hand side of the forum there are links under our services 
Hang in there things will get better, but give debtcc a call
Chin Up. Inquire more about debt consolidation non profit.
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Even in the barest desert you still find life and hope. |
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i2bcsi
Joined: 25 Oct 2007
Posts: 113
Debtcc Points: 2277
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| Posted: Sun Nov 04, 2007 9:15 pm Post subject: |
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| Sorry Lawn, we must have both been typing at the same time |
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i2bcsi
Joined: 25 Oct 2007
Posts: 113
Debtcc Points: 2277
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| Posted: Fri Jun 06, 2008 1:48 am Post subject: Non profit Debt Consolidation |
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Most of us have seen ads promising debt consolidation from non-profit organizations.
Non profit debt consolidation companies collect revenue through 'donations' from ‘clients’. And they take large salaries for there staffs!! A recent investigation by Business Week found few companies had paid their executives over $300,000 a year as salary!!
Many people have complained to the Better Business Bureau and state attorney generals. I will personally recommend people to either try to settle debt on their own or go for a proper law firm, which will give you a much better service and be transparant |
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vivek
Joined: 06 Jun 2008
Posts: 1
Debtcc Points: 19
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| Posted: Fri Nov 07, 2008 12:43 am Post subject: Debt Consolidation non profit org-Wolf in Sheep's Clothing |
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I'm just dumbstuck by reading all these stuffs about debt consolidation Non Profit companies. It seems "A Wolf in Sheep's Clothing". I had a misconception that non profit debt consolidation companies are more philantropic than profit-orientation. I'm shell shocked.
Vivek thanks for the additional input man. |
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Mathews1432
Guest
Debtcc Points: 100
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